Part-Time Reinsurance Analyst

Southern Farm Bureau Life Insurance Company; Lakeover (MS); On-site; USD 65,000 - 90,000; Full time

Benefits offered by this job

Health Insurance

Onsite Cafe

Learning & Development

Tuition reimbursement

Promotional opportunities

Life Insurance and Company-Funded P-F

Paid time off for volunteering

Job summary

Southern Farm Bureau Life Insurance Company is seeking a Reinsurance Analyst to manage new reinsured business and maintain existing reinsurance for life and DI products. The role covers documenting facultative cases, ensuring reimbursement, and assisting with Schedule S (Reinsurance) for the Annual Statement.

The position requires strong analytical skills, team collaboration, and familiarity with the TAI system to process policies, recaptures, and billings while supporting underwriting and

Qualifications

• Bachelor's degree in business related field or two years of experience with Southern Farm Bureau.
• Insurance or industry related certification preferred.
• Knowledge and/or interest in new and emerging technologies.
• Strong analytical and problem-solving skills.
• Ability to collaborate with others in a team environment.
• Prioritization skills and flexibility to reprioritize tasks when appropriate.
• Ability to function effectively in the workplace as evidenced by integrity, courage to act and communication skills.
• Ability to work with others effectively as evidenced by respect for people and teamwork.
• Ability to meet organizational goals and customer expectations evidenced by accountability for results, commitment to service and initiative.
• Ability to perform the essential functions of the job as evidenced by growth in job knowledge and professional development.

Responsibilities

• Review new policies listed on the TAI daily cycle reinsurance report for accuracy, including treaty assignment.
• Review the automatic binding limits to determine if facultative reinsurance is needed and contact Underwriting if appropriate paperwork is not complete.
• Maintain all reinsured policies on the TAI reinsurance system, which requires understanding the TAI system and its functions.
• Review reinsured policy transactions performed by Underwriting, Conservation, Policy Service, and Claims, requiring knowledge of the policy life cycle.
• Review TAI recapture reports and recapture all eligible policies according to treaty guidelines.
• Fill retention limit on remaining policies due to termination of a previous policy using TAI reports.
• Prepare the monthly billings and payments for traditional life policies on the TAI system.
• Prepare the monthly billings for Disability Income, verifying premiums, terminations, and adjustments.
• Research and answer inquiries from reinsurance companies.
• Prepare Survivor Whole Life billing.
• Prepare the reinsurance DAC tax report for the federal income tax return.
• Provide assistance to Claims, Policy Service, and Underwriting regarding reinsurance matters.
• Maintain and update the original reinsurance treaties in the vault.

Skills

Analytical skills

Problem-solving

Team collaboration

Prioritization

Integrity / accountability

Communication

Respect for people / teamwork

Initiative / service mindset

Growth / development

Education

Bachelor's degree in business related field

Insurance or industry certification preferred

Tools

TAI system

Job description

The Reinsurance Analyst processes new reinsured business and maintains existing reinsurance for the life and DI products. The Reinsurance Analyst must be knowledgeable about all reinsurance treaties and procedures to ensure that any questions can be answered efficiently. This position is responsible for having proper documentation on facultative cases to ensure Southern Farm Bureau will be reimbursed by the reinsurance company or companies. The Reinsurance Analyst assists in the preparation of Schedule S (Reinsurance) for the Annual Statement.

• Review new policies listed on the TAI daily cycle reinsurance report for accuracy, including treaty assignment.
• Review the automatic binding limits to determine if facultative reinsurance is needed and contact Underwriting if appropriate paperwork is not complete.
• Maintain all reinsured policies on the TAI reinsurance system, which requires the Reinsurance Analyst to understand the TAI system and its functions.
• Review reinsured policy transactions performed by Underwriting, Conservation, Policy Service, and Claims, requiring a thorough knowledge of the life cycle of a policy.
• Review TAI recapture reports and recapture all eligible policies in accordance with treaty guidelines, requiring research of all active policies on an insured to determine if the full retention limit has been met.
• Fill retention limit on remaining policies due to termination of a previous policy by using TAI reports.
• Prepare the monthly billings and payments for traditional life policies on the TAI system, verifying the premiums, terminations, and recaptures on the billings.
• Prepare the monthly billings for Disability Income, verifying the premiums, terminations, and any adjustments needed due to any changes on a policy.
• Research and answer inquiries from reinsurance companies.
• Prepare Survivor Whole Life billing.
• Prepare the reinsurance DAC tax report (cash flow of reinsurance) to be used in the federal income tax return.
• Provide assistance to Claims, Policy Service, and Underwriting regarding reinsurance matters.
• Maintain and update the original reinsurance treaties in the vault.

Qualifications:

• Bachelor's degree in business related field or two years of experience with Southern Farm Bureau
• Insurance or industry related certification preferred
• Knowledge and/or interest in new and emerging technologies
• Strong analytical and problem-solving skills.
• Ability to collaborate with others in a team environment.
• Prioritization skills and flexibility to reprioritize tasks when appropriate
• Ability to function effectively in the workplace as exhibited through one's integrity, courage to act and communication skills
• Ability to work with others effectively as exhibited through one's respect for people and commitment to teamwork
• Ability to meet organizational goals and customer expectations as exhibited through one's accountability for results, commitment to service and initiative
• Ability to perform the essential functions of the job as exhibited through one's growth in job
  knowledge and professional development
• Ability to meet organizational goals and customer expectations as exhibited through one's accountability for results, commitment to service and initiative
• Ability to perform the essential functions of the job as exhibited through one's growth in job knowledge and professional development

Employee Benefits:

• Health Insurance:
• Comprehensive coverage for employees and their families.
• Access to an onsite clinic, preventive care, and prescription drugs.
• Mental health coverage and an Employee Assistance Program.
• Active Lifestyle Rewards Program:
• Incentives for maintaining an active lifestyle.
• Rewards for participating in fitness challenges and wellness activities.
• Weight Management Programs:
• Customized weight management plans.
• Support for achieving and maintaining a healthy weight.
• Employee Engagement:
• Opportunities to connect with colleagues.
• Fun teambuilding activities.
• Annual events for employees and their families
• Company Picnic, Thanksgiving lunch, Christmas Reception.
• Family Fun Night
• Onsite Cafe:
• Convenient access to nutritious meals.
• Promoting healthy eating habits.
• Learning & Development:
• Continuous learning opportunities.
• Tuition reimbursement for further education.
• Pairing employees with mentors.
• Professional growth and guidance.
• Promotional Opportunities:
• Advancement within the company.
• Life Insurance and Company-Funded Pension:
• Financial security for employees and beneficiaries.
• Paid time off for volunteering.
• Contributing to the community.

Equal Opportunity Employer

This employer is required to notify all applicants of their rights pursuant to federal employment laws.For further information, please review the Know Your Rights notice from the Department of Labor.